About
Tamilnad Mercantile Bank Limited has its headquarters in Thoothukudi, Tamil Nadu, India The bank was established in the year 1921 which was named as the Badar Bank then. However, it got renamed in the year 1962 and was quite appealing for the Nadar community too. It is esteemed that during the financial year 2018–2019, the bank had earned the net profit of ₹ 2585 million with more than 500 branches throughout India with 12 regional offices’ as well.
Listing and Revenue
| Revenue | ₹3,638.8 crore |
| Operating Income | ₹8,84.2 crore |
| Net Income | ₹2,58.6 crore |
| Total Assets | ₹40,532.8 crore |
Products and Services
Amongst the private banks, Tamilnad Mercantile Bank is the first private bank that offered computerisation for branch-level operations. Bank also offered all the advanced services using the Infosys's "FINACLE" Software. Bank is currently into agreement with CCAvenue, BillDesk, and PayU India to offer the internet banking customers with further payment gateway services. The bank also offers introduced mobile banking along with POS machines to their valued customers. Other than this, the bank also offers services of Credit cards, Consumer banking, Corporate banking, Finance and Insurance, Mortgage loans, Private banking, and Wealth management to name some.
History
Tamilnad Mercantile Bank is one of the oldest bank whose history dates back even before the country’s independence. The bank was established in the year 1921 and was founded with an approach for Nadar business community
In the year 1921, AMM Sinnamani approach and played a major role to create a bank. AMM Sinnamani Nadar also initiated for understanding different founding memebers of TMB.
Originally in the year 1921, the bank was registered as Nadar Bank Limited under the Indian Companies Act, 1913.
In the year 1921, .V.Shanmugavel Nadar was elected as the first chairman and thus the bank became open for the public 1921 in Ana Mavanna Building at South Raja Street at Thoothukudi.
In the year 1937, Nadar Bank also had a branch in Sri Lanka. In the year1947, the bank could manage to get more 4 branches in Sivakasi, Thoothukudi, Madurai, and Virudhunagar.
In the year 1976, the bank had its first Indian Branch in outside Tamil Nadu State at Bengaluru
The first fully computerised branch was opened at WGC Road, Thoothukudi on 9 December 1984. The Bank launched its ATM Card on 11 November 2003.
Acquisition
No information available on this.
Awards and Recognition
TMB has been conferred with “SFBCK Banking Excellence & Businessman of the year Award 2016” for 3rd Best Bank at National Level under Private Sector Banks. In the year 2011, it was ranked as the fastest growing bank in small size while in the year 201o it was ranked as the best performing bank. It also won Finwix 2012 Best bank award. Tamilnad Mercantile Bank has also been awarded 2nds prize amongst the best oldest private sector banks buy the financial expires. It was also rated as the 5th fastest growing bank by business world under the best small banks. Under Atal Pension yojana, in the year 2016, the bank also received the best bank award.
Subsidiaries
No information available on this.